Insurance rates are set for broad, generalized categories of drivers and vehicles without the capability to set future insurance rates based upon the driving habits of an individual driver. U.S. Pat. No. 5,797,134 (“the '134 patent”) and U.S. Pat. No. 6,064,970 (“the '970 patent”), both entitled “Motor Vehicle Monitoring System for Determining a Cost of Insurance,” and U.S. Pat. No. 6,868,386 (“the '386 patent”), entitled “Monitoring System for Determining and Communicating a Cost of Insurance,” disclose a system and method in which previously set insurance rates are adjusted, after the coverage term, based upon driver behavior during the term of the insurance contract, and applied to the past coverage term. The '134 patent, the '970 patent, and the '386 patent are each hereby incorporated by reference. These patents disclose a passive vehicle monitoring system that observes driver behavior and vehicle operation, but that does not provide any mentoring, warnings or feedback to the driver. In particular, the disclosed systems do not provide any mentoring, warnings or feedback based upon the driver's behavior or operation of the vehicle. There is no teaching, discussion or attempt by those patents to “improve” an operator's driving performance or relate the operator's driving performance with real-time and/or future adjustments of insurance coverage and/or costs.
The '134, '970, and '386 patents and other known systems do not provide a user interface, website or portal that allows insurers to bid on providing insurance coverage to groups of one or more drivers based upon known driver performance. Instead, known systems set driver insurance rates based upon a standard insurance rating profile. The '134, '970, and '386 patents do not disclose a system or method for categorizing or grading driver skill or behavior for the purpose of setting current and/or future insurance rates or for grouping drivers for consideration by insurance companies. Current systems also lack the capability for real-time metered pricing, such as calculating an insurance price, rate or premium in real-time according to how a driver drives, where a vehicle is driven, the condition of a vehicle, when a vehicle is driven, and under what conditions a vehicle is driven (e.g. weather, road construction, or traffic conditions). The insurance rates disclosed in known systems are based upon a driver or insured profile that is established before monitoring the driver's performance.